Office of the City Clerk - Record #: O2022-4009

• Record #: O2022-4009
• Type: Ordinance
• Status: Repealed
• Intro date: 12/14/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 2/1/2023
• Title: Adoption of Tax Increment Allocation Financing (TIF) for Amendment No. 3 to redevelopment plan for expanded 43rd/Cottage Grove Redevelopment Project (Repealed by O2023-995)
• Sponsors: Lightfoot, Lori E.
• Topic: TAX INCREMENT FINANCING DISTRICTS - 43rd/Cottage Grove T.I.F. - Adoption
• Related files: O2023-995

Date	Journal Page Number	Action By	Action	Result
2/1/2023	60187	City Council	Repealed
1/18/2023	59618	City Council	Passed	Pass
1/12/2023		Committee on Finance
12/14/2022	57233	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
December 14, 2022










TO THE HONORABLE, THE CITY COUNCIL . OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinances authorizing the 3rd amendment to the 43rd and Cottage Grove TIF Redevelopment Project and Plan.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours.

AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR AMENDMENT #3 TO THE REDEVELOPMENT PLAN FOR THE EXPANDED 43rd/COTTAGE GROVE REDEVELOPMENT PROJECT AREA

WHEREAS, the City of Chicago (the "City"), by an ordinance adopted by the City Council of the City (the "City Council") on July 8, 1998, approved a redevelopment plan for a portion of the City known as the 43rd/Cottage Grove Redevelopment Project Area (the "Original Redevelopment Project Area") for the purpose of implementing tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seg., as amended (the "Act"); and

WHEREAS, the City Council adopted an ordinance on July 8, 1998 designating the Original Redevelopment Project Area as a redevelopment project area pursuant to the Act; and

WHEREAS, the City Council adopted an ordinance on July 8, 1998 adopting Tax Increment Allocation Financing for the Original Redevelopment Project Area pursuant to the Act; and

WHEREAS, The Original Redevelopment Project Area was previously amended on September 29, 2004, adding area to it (as amended, the "Amended Original Redevelopment Project Area) and amended again on December 14, 2022 to extend the termination date ofthe Amended Original Redevelopment Area; and

WHEREAS, pursuant to the Designation Ordinance (defined below), the City, to encourage redevelopment of areas located adjacent to the Amended Original Redevelopment Proje...